Piedmont Realty Trust, Inc. Signs over 500,000 SF of Leases Third Quarter-to-Date Bringing Year to Date Leasing to over 1.5 million Square Feet
Piedmont Realty Trust (NYSE:PDM), a Class A office property owner focused on the Sunbelt region, has reported strong leasing activity in Q3 2025.
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Rhea-AI Summary
Piedmont Realty Trust (NYSE:PDM), a Class A office property owner focused on the Sunbelt region, has reported strong leasing activity in Q3 2025. The company has secured over 500,000 square feet of leases in the third quarter, with more than 400,000 square feet attributed to new tenants.
Notable achievements include: 85% of new tenant leases covering previously vacant space, year-to-date leasing volume exceeding 1.5 million square feet, and approximately 178,000 square feet of new tenant leases in the out-of-service portfolio, which is now over 50% leased. The company maintains a robust late-stage pipeline of 400,000 square feet, with two-thirds representing potential new tenants, and remains confident in achieving its 2025 leasing goal of 2.2 to 2.4 million square feet.
Positive
- Strong Q3 leasing activity with over 500,000 square feet secured
- 85% of new tenant leases are for previously vacant space
- Out-of-service portfolio now over 50% leased
- Robust pipeline of 400,000 square feet in late-stage negotiations
- On track to meet 2025 leasing goals of 2.2-2.4 million square feet
Negative
- None.
Details
News Market Reaction – PDM
On Sep 10, the first trading day after this news, PDM closed 1.52% above the previous close.
Data tracked by StockTitan Argus for the Sep 10 session.
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Atlanta, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Piedmont Realty Trust, Inc. ("Piedmont” or “the Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company is participating in this week’s Bank of America Securities 2025 Global Real Estate Conference in New York. The Company has completed over 500,000 square feet of leasing thus far in the third quarter, with over 400,000 square feet related to new tenants. Approximately
Commenting on third quarter operational success to date, Brent Smith, Piedmont's President and Chief Executive Officer, said, "Leasing momentum remained strong during July and August with tenant demand continuing to push our leasing volumes to record highs. Of note, we completed five transactions for a full floor or greater demonstrating that the unique environments we’ve created in our renovated buildings, combined with a customer-centric, placemaking mindset, continue to resonate with a broad range of users. The demand from clients was particularly evident in our Minneapolis and Sunbelt markets. Furthermore, with over 400,000 square feet in our late-stage pipeline, two-thirds of which is attributable to new tenancy, and with strong activity across all our markets, we feel confident that we will achieve our 2025 total leasing goal of 2.2 to 2.4 million square feet."
About Piedmont Realty Trust
Piedmont Realty Trust™ (NYSE: PDM), is a fully integrated, self-managed real estate investment company focused on delivering an exceptional office environment. As an owner, manager, developer and operator of approximately 16 MM SF of Class A properties across major U.S. Sunbelt markets, Piedmont Realty Trust is known for its hospitality-driven approach and commitment to transforming buildings into premier “Piedmont PLACEs” that enhance each client’s workplace experience.
Contact: Sarah Heimlich
Company: Piedmont Realty Trust
Phone: 770 418 8800
Email: Investor.relations@Piedmontreit.com
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